LIVE MARKETS-European stocks flat, semis rise ahead of Nvidia results
NVIDIA Corporation NVDA | 0.00 |
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EUROPEAN STOCKS FLAT, SEMIS RISE AHEAD OF NVIDIA RESULTS
Europe's STOXX 600 .STOXX is flat on Wednesday, with media names dragging things lower while semiconductor stocks are rising as Nvidia's results loom later today.
A basket of basic resources stocks .SXPP is rising 0.9% while tech .SX8P is up 0.6%. Media names .SXMP are falling 1.9%.
Semiconductor companies are doing well ahead of results from Nvidia due to hit screens later. STMicroelectronics STMPA.PA are up 4% and Soitec SOIT.PA is topping the index up 9.4%. ASM International ASMI.AS is up 3%.
There's lots of news for the sector on Wednesday, as some 48,000 Samsung Electronics 005930.KS workers are set to walk off the job on Thursday after talks on bonus payments broke off without a deal, meanwhile Chinese semiconductor shares rallied 4.6% .CSIH30184 after Yangtze Memory Technologies, the country's top flash memory chip maker begin its onshore listing process. .SS
In the UK RS Group RS1R.L is up 8.4% after launching a new share buyback and beating FY estimates.
The bigger faller in Europe is Norwegian industrial investment company Orkla ORK.OLs after it posted a profit decline flagging increasing expenses amid the Middle East conflict - down 8.5%. Experian is off 5.5% EXPN.L after launching a $1 billion buyback and forecasting annual organic revenue growth.
(Lucy Raitano)
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FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS:
EUROPE BEFORE THE BELL: INFLATION WORRIES PERSIST, NVIDIA LOOMS CLICK HERE
AS STOCKS SLUMP, CUE NVIDIA CLICK HERE
